Cardo Health raises USD 17.5 million to take digital health to emerging markets
Stockholm (Sweden), 11 January 2022 – Today, Cardo Health announces the closing of an over-subscribed USD 17.5 million funding round. Founded by former McKinsey Partner and European start-up practice leader Tobias Strålin, Cardo Health is on a mission to improve the health and wellbeing of millions of people in emerging markets. It has embarked on its journey and has already acquired large stakes in ViBe Saúde, Brazil’s leading B2C digital health company, as well as in Kena Health in South Africa.
The healthcare sector in emerging markets face real challenges. With a high number of uninsured citizens and a high dependency on public healthcare, there is an enormous, untapped potential to transform the health sector in these markets. Improving access to affordable and high-quality care is vital for better patient experiences and reduced societal costs.
“Cardo Health drives real change in the digital health sector in emerging markets. For us, it’s all about unleashing the full potential of the best local digital health start-up in each market, supporting them in their mission to provide affordable and high-quality care for those the traditional healthcare systems have left behind”, says Tobias Strålin, Founder and CEO of Cardo Health.
He adds: “Look at Brazil, a country with 160 million uninsured people and an exponentially growing digital health market. The healthcare system is strained, and digital solutions can help address the pain points and improve the health of millions of people. ViBe Saúde has had amazing traction and is contributing to solving the country’s healthcare challenges. In just 18 months, the company has attracted over one million registered users – faster than Twitter, Netflix and Pinterest – and conducted more than 600,000 health consultations with stellar user feedback.”
Cardo Health’s vision is to become the leading digital health company in emerging markets. The company will leverage its proven and scalable business concept to expand into an additional nine countries with a total population of one billion people by 2023.
“With our proven methodology, funding and extensive know-how of scaling businesses, I believe Cardo Health is well-positioned to become the leading digital health company in emerging markets. This is a rare opportunity, and we have a great team in place to build a massive business”, says Joakim Pops, Cardo Health board member and Founding Partner of majority owner Webrock Ventures.
The A-round investors primarily consist of unicorn builders, industry insiders, and senior executives and board members from leading financial and professional institutions.
About Cardo Health:
Cardo Health is a digital health company with a mission to improve the health and wellbeing of millions of people in emerging markets. We invest in and scale the best early-stage digital health start-up in each of our markets. Bringing funding and a proven business concept, we leverage technology and extensive operational know-how to create local, leading digital health champions. Our co-owned companies ViBe Saúde in Brazil and Kena Health in South Africa already provide high-quality, affordable care to one million registered users. Headquartered in Stockholm, Cardo Health is on an ambitious growth journey to become the leading digital health company in emerging markets.